Freddie Launches Workout Plan for 'High Risk' Loans

Under a pilot program involving reduced documentation loans from California, Nevada and other high delinquency states, Freddie Mac is turning calls over to third-party servicers to perform loan workouts.

Ingrid Beckles, Freddie Mac's senior vice president for default asset management, said the strategy is designed to help lenders manage "unprecedented call volume" by directing calls to a specialist in handling Alt-A credit mortgages and other high-risk loan products.

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